I will say though, might not make the most sense to pick a house in Mountain View as an example. For a couple just starting out in the South Bay that don't have two high earners and want to own a house, Fremont/Union City/Milpitas/San Jose are more realistic.
Also because of prop 13, it can make sense to lose money on buying vs. renting in the short term if you anticipate staying somewhere for a long time, because of the potentially huge property tax savings. And for basically the same reason it can make sense to lock in a mortgage payment that doesn't look like a great deal on paper in the short term.
Yes but then you need to commute an hour instead of 15 mins. Meanwhile that $5k rental oftentimes is in a brand new luxury building with full amenities and is very nice, and also has the 15 min commute
I will say though, might not make the most sense to pick a house in Mountain View as an example. For a couple just starting out in the South Bay that don't have two high earners and want to own a house, Fremont/Union City/Milpitas/San Jose are more realistic.
Also because of prop 13, it can make sense to lose money on buying vs. renting in the short term if you anticipate staying somewhere for a long time, because of the potentially huge property tax savings. And for basically the same reason it can make sense to lock in a mortgage payment that doesn't look like a great deal on paper in the short term.